IMF – India’s GDP to reach 6.6% after -demonetisation

As per IMF, International Monetary Fund India’s growth is expected to get 6.6 per cent in year 2016-17 because of worries emerged in the economy which resulted temporary troubles caused by demonetisation took in the country.

In its annual report IMF also mentioned that demonetisation will have only short term influence on the economy and it would come back to its expected growth of more than eight per cent in the next coming few years.

Cash shortages and payment troubles triggered by the currency exchange initiative have damaged consumption and business activity and posed new challenge to sustain the growth drive as per the IMF report.

IMF also recommended continued watchfulness to possible domestic and external tremors and urged the authorities to further advance economic and structural reforms to discourse supply bottlenecks, job creation and ensure comprehensive growth.